RK Capital Management LLC Has $6.40 Million Position in LSI Industries Inc. (LYTS)
RK Capital Management LLC lessened its holdings in LSI Industries Inc. (NASDAQ:LYTS) by 15.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 707,038 shares of the construction company’s stock after selling 130,481 shares during the quarter. RK Capital Management LLC owned 2.78% of LSI Industries worth $6,399,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Genesee Valley Trust Co. purchased a new position in LSI Industries in the 2nd quarter worth $103,000. American International Group Inc. raised its position in LSI Industries by 7.0% in the 1st quarter. American International Group Inc. now owns 14,638 shares of the construction company’s stock worth $148,000 after purchasing an additional 963 shares during the period. Alliancebernstein L.P. purchased a new position in LSI Industries in the 2nd quarter worth $152,000. Metropolitan Life Insurance Co. NY raised its position in LSI Industries by 19.9% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 15,947 shares of the construction company’s stock worth $161,000 after purchasing an additional 2,645 shares during the period. Finally, UBS Group AG raised its position in LSI Industries by 5.6% in the 1st quarter. UBS Group AG now owns 16,670 shares of the construction company’s stock worth $168,000 after purchasing an additional 890 shares during the period. Institutional investors own 77.90% of the company’s stock.
A number of equities analysts recently commented on LYTS shares. Canaccord Genuity reiterated a “buy” rating and issued a $9.00 target price on shares of LSI Industries in a research report on Monday, August 7th. Roth Capital cut shares of LSI Industries from a “buy” rating to a “hold” rating and decreased their target price for the stock from $13.00 to $7.00 in a research report on Friday, August 4th. TheStreet cut shares of LSI Industries from a “b-” rating to a “c+” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research cut shares of LSI Industries from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th.
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In other news, VP James E. Galeese bought 9,025 shares of LSI Industries stock in a transaction dated Monday, August 21st. The shares were acquired at an average price of $5.53 per share, with a total value of $49,908.25. Following the completion of the purchase, the vice president now owns 824 shares in the company, valued at approximately $4,556.72. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP James E. Galeese bought 16,700 shares of LSI Industries stock in a transaction dated Friday, August 18th. The stock was purchased at an average cost of $6.01 per share, for a total transaction of $100,367.00. Following the purchase, the vice president now owns 330 shares of the company’s stock, valued at approximately $1,983.30. The disclosure for this purchase can be found here. In the last three months, insiders bought 32,525 shares of company stock worth $190,675. Insiders own 5.36% of the company’s stock.
Shares of LSI Industries Inc. (LYTS) traded up 0.77% during midday trading on Friday, reaching $6.52. 245,636 shares of the company’s stock were exchanged. The stock has a market cap of $167.59 million, a PE ratio of 55.25 and a beta of 1.62. The stock’s 50 day moving average is $6.11 and its 200-day moving average is $8.42. LSI Industries Inc. has a 12-month low of $4.99 and a 12-month high of $11.55.
LSI Industries (NASDAQ:LYTS) last released its quarterly earnings results on Thursday, August 17th. The construction company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The business had revenue of $83.42 million for the quarter, compared to analysts’ expectations of $86.55 million. LSI Industries had a net margin of 0.91% and a return on equity of 3.14%. LSI Industries’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 EPS. On average, equities analysts expect that LSI Industries Inc. will post $0.20 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Monday, August 28th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, August 24th. LSI Industries’s dividend payout ratio is currently 166.68%.
About LSI Industries
LSI Industries Inc is a provider of corporate visual image solutions to the petroleum/convenience store industry. The Company designs and develops aspects of the solid-state light emitting diode (LED) lighting, from the electronic circuit board, to the software to drive and control the LEDs, to the structure of the LED product.
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